What is the preparation of reports for each level of responsibility in the company's organization chart called? A. Static reporting B. Master budgeting analysis C. Exception reporting D. Responsibility reporting


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Connor Sephton answered
The answer to this question is D (responsibility reporting). In this type of reporting, people from various levels of the company will all prepare reports outlining their achievements, project timelines, and results. For example, upper management, who deal with the vision and future of a company, as well as its mission statement, may report about deals they are setting up with other synergistic corporations.

  • Middle management reporting

Middle management, who takes care of the staff under them, while also answering to upper management, will report on how well they've stayed on budget for the fiscal period, while also letting the higher-ups know about any special problems or achievements.

  • Lower management

Lower management are in the trenches, overseeing regular workers - in general, lower management will report about practical concerns, such as staff problems, hiring, firing, and issues with customers and clients. Lower management will also let middle management and upper management know whether or not they've met their budgets or quotas for a defined period of time.

  • How to learn more

The best way to learn more about business reporting and business accounting is to pick up a book on the subject, or listen to some informative podcasts by business gurus. There are plenty of super-bright people blogging or doing videos about business practices as well, so you should try to check YouTube and Google when you need to find about more about responsibility reporting or other business skill sets and management techniques.

The best business people will combine excellent knowledge of business practices with some element of vision or imagination. By mixing creativity and business savvy, they can find the hidden potential in an array of products and services, which may be excellent investments. Business gurus spot innovation and opportunity and then buy into it...and, sometimes, they create it all by themselves.

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